The global micromobility market is expected to reach $340 billion by 2030, according to a new McKinsey report.
This is up from approximately $160 billion in 2022.
Europe is credited as representing the highest share of that value at approximately $140 billion in 2030, up from $60 billion in 2022.
“We believe that regulation is the key market driver for micromobility, next to macroeconomic developments such as population and GDP, consumer behaviour and new emerging technologies,” McKinsey Center Co-Leader for Future Mobility Kersten Heineke told Zag Daily.
“Almost 60% of metropolises in the EU and US support micromobility through different forms of investment schemes, infrastructure projects or urban vehicle access restrictions. Within these, we have particularly seen European cities and countries as frontrunners, which in turn is driving the market development.”
The surge in value is mainly driven by e-bike sales and the broader range of uses compared to e-scooters, such as carrying cargo, as well as a better total cost of ownership compared with e-mopeds.
“Additionally, we currently see government subsidies specifically targeting e-bicycles, and also employers increasingly see the electric bicycle as a good alternative to the car when it comes to corporate leasing schemes, particularly in Germany.”
Future air mobility
The report reveals that 2023 was a mixed year for the future air mobility sector. Last year saw a total disclosed investment of $4.5 billion which is lower than the $4.9 billion investment disclosed in 2022.
Having said that, the number of deals doubled to 151 and new aircraft orders totaled $22 billion. The backlog of open aircraft orders increased to a further 21,300.
“We have seen several deals across the entire value chain including investments into components, hence the smaller average ticket size,” Kersten said.
Elsewhere in the sector, it’s clear that advanced air mobility is on the rise in Europe. This year the UK will see its first vertiport testbed to be developed, and what could be the Western hemisphere’s first ever eVTOL will launch commercial services in Paris.
McKinsey will present an update of its market sizing at the next Micromobility Industries conference held in June.
